Acumen Pharmaceuticals (NASDAQ:ABOS) Receives “Sell (D-)” Rating from Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of Acumen Pharmaceuticals (NASDAQ:ABOS) in a research report report published on Tuesday morning,Weiss Ratings reports.

A number of other research firms also recently weighed in on ABOS. Bank of America dropped their target price on Acumen Pharmaceuticals from $10.00 to $9.00 and set a “buy” rating for the company in a report on Monday, August 25th. Citigroup started coverage on Acumen Pharmaceuticals in a report on Tuesday, June 17th. They set a “buy” rating and a $4.00 target price for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Acumen Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Acumen Pharmaceuticals Stock Up 9.9%

ABOS opened at $2.33 on Tuesday. Acumen Pharmaceuticals has a fifty-two week low of $0.86 and a fifty-two week high of $3.36. The company has a debt-to-equity ratio of 0.26, a quick ratio of 5.97 and a current ratio of 5.97. The company has a market capitalization of $141.14 million, a P/E ratio of -1.02 and a beta of 0.20. The stock has a fifty day moving average of $1.50 and a 200-day moving average of $1.28.

Acumen Pharmaceuticals (NASDAQ:ABOS) last posted its earnings results on Tuesday, August 12th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). On average, equities analysts expect that Acumen Pharmaceuticals will post -1.56 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new position in Acumen Pharmaceuticals in the second quarter valued at about $291,000. Jane Street Group LLC grew its position in Acumen Pharmaceuticals by 1,526.0% in the second quarter. Jane Street Group LLC now owns 175,670 shares of the company’s stock valued at $204,000 after acquiring an additional 164,866 shares during the last quarter. Marshall Wace LLP bought a new position in Acumen Pharmaceuticals in the second quarter valued at about $160,000. Invesco Ltd. grew its position in Acumen Pharmaceuticals by 544.1% in the first quarter. Invesco Ltd. now owns 127,798 shares of the company’s stock valued at $141,000 after acquiring an additional 107,956 shares during the last quarter. Finally, Nuveen LLC bought a new position in Acumen Pharmaceuticals in the first quarter valued at about $86,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Acumen Pharmaceuticals Company Profile

Acumen Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops targeted therapies for the treatment of Alzheimer’s disease. The company focuses on advancing a targeted immunotherapy drug candidate sabirnetug (ACU193), a recombinant humanized immunoglobulin gamma 2 that completed Phase I clinical trial to target soluble amyloid-beta oligomers.